TDS payment

Hi All,

Need clarification regarding TDS interest.

we have deducted and remitted to department for the FY 2018-19 TDS in the month of Jun'20.

what is the rate of interest to be deducted. whether it is 1% or 1.5%

while doing TDS return what is the date of payment to be mentioned and what is the date of deduction to be mentioned.

Kindly clarify.

Replies (5)
Quick Summary
This discussion seeks clarification on the applicable interest rate for TDS payments made in June 2020 for FY 2018-19. The original poster deducted and remitted TDS for FY 2018-19 in June 2020 and is unsure whether the interest rate should be 1% or 1.5%. They also need guidance on the correct dates to mention for deduction and payment when filing the TDS return. Another user suggests the rate is 1.5% per month as per Section 201(1).

Originally posted by : Chandrasekar
Hi All,

Need clarification regarding TDS interest.

we have deducted and remitted to department for the FY 2018-19 TDS in the month of Jun'20.

what is the rate of interest to be deducted. whether it is 1% or 1.5%

while doing TDS return what is the date of payment to be mentioned and what is the date of deduction to be mentioned.

Kindly clarify.

 

Dear Chandrasekar Ji

First kindly confirm to all Ca Club Member 

1- Date on which you deduct TDS of the Month Jun'20

2- Date on which you deposited or still not deposited

 

Thanks with Regards

Ravi SADhiyan

Actually the amount was already paid in the month of Jun'20 pertaining to Mar'19.

Indufficient information again.

we have deducted and remitted to department for FY 2018-19 along with Interest 1% in the month of Jun'20.

while doing TDS revised return for FY 2018-19, we have to mention the date of deduction has 30.06.2020 and date of payment 30.06.2020.

Pls confirm

No its wrong...
rate is 1.5% per month.

read sec 201(1)

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